Link: https://links.sgx.com/1.0.0/corporate-announcements/JCM8N7M1QAPLWQW2/e07f22727c220d336541899987cc71b42fc5f33955b3a4377a1e4f5f58f85b8b

Summary:

• Financial performance:

  • Gross revenue: US$49.5 million (up 1.8% YoY, 1.8% above IPO forecast)

  • Net property income: US$22.6 million (up 1.7%)

  • Distributable income: US$17.4 million (up 3.3% over IPO forecast)

  • Distribution per unit: US$0.0169

• Portfolio and leasing:

  • Occupancy rate: 95.1% (up 0.8 points vs IPO)

  • Positive rental reversion: 5.1% overall

  • 41.9% of FY25/26 lease expiries already renewed (US$905k monthly base rent)

  • WALE: 4.4 years

• Capital and balance sheet:

  • Net asset value per unit: US$0.97 (up 2.1% from IPO)

  • Aggregate leverage: 32.5% (down 2.5 points from IPO)

  • Interest coverage ratio: 4.1x; robust debt profile — no maturities in next 3 years

  • Portfolio 100% unencumbered, all debt unsecured

• Portfolio breakdown:

  • Total assets: US$1.61 billion

  • Top 10 customers contribute 73.2% of monthly rent

  • Geographical split: US (64.7%), Vienna (18.1%), Singapore (17.3%)

  • 6 assets; total IT load 90.7MW

• Growth & initiatives:

  • Aggressive lease renewals, strategic acquisitions possible in tier-1 markets

  • ESG focus: biomass-based renewable energy at SG1, net-zero by 2026

  • Acquisition of Vienna asset boosts EMEA presence

• Market update:

  • Data center demand remains strong, especially in Northern California, Northern Virginia, Singapore, and Vienna

  • Continued pricing strength due to tenant demand and constrained supply (especially power)

  • NTT DC REIT sponsored by NTT Group, 3rd largest DC operator globally (ex-China)

Outlook:
Positioned for sustainable growth, with high occupancy, resilient rental trends, low leverage, strong cash flow, and best-in-class sponsors supporting international expansion and ESG targets.